Buy ABG Shipyard for a short term: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now, shares views on shipyard stocks.

What is the call on Pipavav Shipyard and is there anything that you like in the shipyard space?

For a short term trade, ABG Shipyard is beginning to look good. The stock has usually been the traders’ favourite among the shipyard stocks. Pipavav has gone unusually sideways. This has also been a volatile stock in the past at least before the end of last year. Now it is completely flat between 75 and had a bit of a spike up to Rs 90 which look like a breakout but it is again into that same sideways range right now. This stock needs to be trading above 95 to begin to show what would then be medium to long term trend. Right now, it is still much flat.